Daily Trading Tips for Novemeber 18th
November 18th, 2009 Posted in Daily Forex News
Name: Natalie
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Following the USD’s minor slide in yesterday’s trading, it appears the greenback has started to regain some of its previously lost ground, but the market is still shaky. Comments by Fed Chairman Ben Bernanke surprised many investors as he joined the rallying cry for a stronger Dollar, which may lead to strength for the USD in the days ahead.
Meanwhile, Gold prices appear to be continuing their climb with a price above $1,138 now reached. Silver prices also climbed above $18 recently, which supports the notion of rising commodity prices in recent weeks.
9:30 GMT: GBP – MPC Meeting Minutes
- The Bank of England’s (BOE) Monetary Policy Committee (MPC) is due to discuss its interest rate levels as well as general monetary policy.
- These Minutes will reveal the BOE’s sentiment regarding the GBP and British economy and will therefore generate much volatility.
13:30 GMT: USD – Building Permits
- Since the housing market has continued to be a major indicator for the country’s economic strength and recovery, this report has had a much higher impact than normal.
- If these results will show growth in housing development, it may undermine the USD as investors pull their money away from the safe-haven Dollar and back into other investments.
